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Asian Economic News

Singapore PPI Inflation Accelerates For Third Month

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Singapore's producer price inflation accelerated for the third straight month in August, figures from the Department of Statistics showed Friday.

The manufactured product price index climbed 4.9 percent year-over-year in August, faster than July's 3.9 percent rise.

The oil and non-oil indices grew 22.2 percent and 2.3 percent, respectively in August from a year ago.

The domestic supply price index rose 5.8 percent annually in August and climbed 1.0 percent from a month ago.

On a monthly basis, producer prices increased 1.0 percent from July, when it dropped by 1.1 percent.

Data also revealed that import prices grew at a faster rate of 4.9 percent yearly in August, following a 4.2 percent increase in the prior month.

Similarly, export prices went up 3.1 percent in August from a year earlier, after a 2.6 percent gain in July.

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